The U.S. Securities and Exchange Commission (SEC) has once again delayed its decision on Grayscale's application for an Ethereum Futures ETF, amidst reports of an ongoing investigation into the Ethereum Foundation. Alex Thorn, director of research at Galaxy Digital, mentioned that due to the SEC subpoena and the SEC’s lack of contact with ETF applicants, the approval of the Ethereum ETF spot in May seems extremely unlikely. The SEC's scrutiny extends to the potential classification of Ethereum as a security, following concerns related to the Ethereum Foundation and the 2014 Ethereum ICO. This development casts doubt on the approval of both futures and spot Ethereum ETFs in the near future, with industry experts citing the SEC's lack of communication with ETF applicants and the recent subpoena as key factors. Grayscale, known for its efforts in paving the way for cryptocurrency ETFs, faces challenges with its Ethereum ETF applications in limbo. The situation reflects broader regulatory uncertainties surrounding Ethereum and its classification, potentially impacting the future of cryptocurrency ETFs.
Reports suggest the @SECGov may be about to categorize $ETH as a security. It would have huge implications for the blockchain’s future. Here’s why it would be wrong. An opinion: https://t.co/eGOKSRhrvN
Why An ETH ETF Might Be Delayed After All via @forbes https://t.co/U5LvXiWUhk
SEC GOES AFTER ETHEREUM! BE READY 🚨 In this video, @KyleReidhead & @jaybird_nft discuss the latest news about Ethereum's legal troubles. https://t.co/E8JENX2uMg
The SEC is investigating the Ethereum Foundation, which could shake up the crypto industry by potentially allowing the regulator to classify ETH as a security. Get all the details in this week's edition of Hodler's Digest. https://t.co/ZJ4mXTTdjZ
As expected the @SECGov delays @Grayscale Ethereum Futures Trust rule change to trade on the @NYSE 👀 IMO: There are issues in discovery either factual or interpreted prohibiting Ethereum approvals across the board. https://t.co/5Hx8VnGToZ
The U.S. #SEC has moved the deadline for approving or denying Grayscale's #Ethereum futures ETF https://t.co/cZcjI3iFaL
The US SEC has yet again extended the deadline for Grayscale's Ethereum Futures Trust ETF. https://t.co/UnRlhM80a0
Alex Thorn, director of research at Galaxy Digital, said that due to the SEC subpoena and the SEC’s lack of contact with ETF applicants, the approval of the Ethereum ETF spot in May seems extremely unlikely. And the SEC may consider whether the 2014 Ethereum ICO was an…
Grayscale's ETF application for a futures ETF, like a pending application for a spot ETF, will be in limbo a while longer. https://t.co/JeQ4FgIwYJ
Grayscale paved regulatory path for spot btc ETFs… Will they do same for spot eth ETFs? I say yes. Know they’re getting killed on GBTC fee, but that also gives them dry powder to fight for future crypto ETFs. You may not like Grayscale, but you probably like their attorneys.
SEC Again Delays Decision on Grayscale Ethereum ETF ► https://t.co/PZoyJM4l77 https://t.co/PZoyJM4l77
Read Alex’s (@intangiblecoins) take on the SEC’s reported investigation of the Ethereum Foundation from this week’s Weekly Research Brief from @glxyresearch https://t.co/8mtTYXPJ0r
There's the delay order for @Grayscale's Ethereum Futures ETF Filing -- as expected. https://t.co/gT3x8iw3Ml